Latest news
-
S. Korea to build new LNG terminal in southern industrial town to meet increased demands
SEOUL -- South Korea will build a new liquefied natural gas storage terminal with a capacity of 400,000 kiloliters in the southern industrial city of Gwangyang. The construction of the megastructure follows the country's increased demand for gaseous fuel after South Korea revealed a roadmap to reduce its dependency on coal and other fossil fuels for thermal power generation in a bid to reduce the emission of greenhouse gases. About 3,700 tons of liquefied natural gas (LNG) was
February 1, 2023 -
SK hynix suffers huge operating loss due to slumping memory chip business
SEOUL -- SK hynix, the world’s second-largest memory chip producer, suffered an operating loss of 1.7 trillion won ($1.37 billion) in the fourth quarter of last year, driven by sagging global demand amid an economic slowdown, the company said February 1. It marked the first time since the third quarter of 2012 that the company has posted an operating loss. The loss was in stark contrast to a profit of 4.21 trillion won in the last quarter of 2021. The company’s s
February 1, 2023 -
Lotte's ecommerce wing adopts KT's AI-based smart logistics platform for efficient management
SEOUL -- Lotte On, the ecommerce wing of South Korean retail giant Lotte Group, partnered with KT, the country's biggest telecom company, to adopt an artificial intelligence-based smart logistics platform. The smart platform will help Lotte's logistics services efficiently reduce carbon emissions by managing the routes and daily schedules of delivery trucks. AI and big data are widely used in the logistics sector to optimize the operation of facilities, transports, and manp
February 1, 2023 -
Hybe's digital cartoon 'Dark Moon: The Blood Altar' garners more than 100 million views
SEOUL -- "Dark Moon: The Blood Altar," a digital cartoon created by the agency of BTS and published by Naver Webtoon, the web cartoon wing of South Korea's largest portal operator Naver, has gained more than 100 million views since it was released 13 months ago. The web cartoon entered the top five in seven language services including German, Spanish, English, and Chinese. The web cartoon depicts the story of a unique relationship between a teenage girl attending a pr
February 1, 2023 -
Samsung Electronics not to slash investment or production this year
SEOUL -- Samsung Electronics has made it clear that it will not reduce investment or production this year in the face of its deteriorating performance and falling global demand for semiconductors. The clarification came on January 31 when Samsung, the world’s largest memory chip and smartphone maker, announced its disappointing earnings results for 2022. The company said that its sales hit an all-time high of 302.23 trillion won ($245.55 billion) last year, up 8.1 percent
February 1, 2023 -
Bio-venture unicorn GI Innovation prepares for stock market debut
SEOUL -- Bio-venture unicorn GI Innovation is preparing for the company's debut in South Korea's stock market in March. The bio-venture said it will submit registration document to the Financial Services Commission and start the listing process in February. The bio-venture unicorn has two main pipelines -- "GI-101," an immunotherapy agent, and "GI-301," an allergy treatment drug candidate. The company forged license agreements with Yuhan, a pharmaceuti
January 31, 2023 -
BTS agency Hybe acquires AI audio technology startup Supertone
SEOUL -- Targeting the artificial intelligence-based audio market, the agency of BTS has acquired Supertone, an AI voice synthesis technology startup in South Korea. Supertone's sound technology was used in Disney+'s drama series "Big Bet" to reproduce the voice of Choi Min-sik, a 60-year-old veteran actor who was playing the role of a young character in his 30s. Hybe said in a statement on January 31 that the company secured a 56.1 percent stake in Supertone by i
January 31, 2023 -
Joint research team develops high-performance electrode for EV and smartphone batteries
SEOUL -- A joint team of researchers has developed a high-performance electrode for lithium-ion batteries that are commonly used in smartphones, laptops, and electric vehicles. The newly-developed anode, which is the positively-charged electrode, can significantly increase the performance of devices and the lifespan of batteries. Normally, lithium-ion batteries are produced by shaping the battery by coating and drying a mixture of active materials that chemically react to gene
January 31, 2023 -
US utility company AEP to receive $86 mln worth of transformers from Hyundai Electric
SEOUL -- Hyundai Electric, a domestic electrical equipment manufacturer and energy solution provider, has clinched an order worth 106.2 billion won ($86 million) to supply transformers to American Electric Power (AEP), a U.S.-based electricity utility company that oversees power distribution in 11 states. A total of 3,500 transformers crucial in power grids for residential areas will be provided to the U.S. company with some 5 million customers. Data cited by Hyundai Electric showe
January 31, 2023 -
IMF slashes South Korea's 2023 economic outlook to 1.7 percent
SEOUL -- The International Monetary Fund (IMF) lowered its 2023 growth projection for South Korea to 1.7 percent from its earlier figure of 2 percent. The fund made the 0.3 percentage-point downward revision in a quarterly update to its World Economic Outlook report released in Singapore on January 31. It also revised down its 2024 outlook for Korea to 2.6 percent from the previous prediction of 2.7 percent. The lowered projection is in contrast to the IMF’s upward revi
January 31, 2023
-
PHOTOS: Festival features India's traditional dance in Seoul
-
PHOTOS: UAE heritage showcased on Nami Island
-
Octogenarian becomes oldest contestant at beauty pageant in Seoul
-
Krafton to showcase new games at G-Star
-
Golfer Pak Se-ri wins Van Fleet Award for strengthening U.S.-Korea relations
-
Naver Map offers multilingual translation for visitor reviews
-
Indian cultural festival kicks off with traditional dance performance
-
Hanwha Q Cells sells solar project in Washington state
-
School bus fire claims 23 lives in Thailand
-
Google to invest $1 billion in Thailand data center, cloud AI Infrastructure